Unearthing gold in north America

Timmins Gold Camp, Ontario - Sierra Madre Gold Belt, Mexico

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Message: $2 Million PP

$2 Million PP

posted on Jan 13, 2009 03:35AM
West Timmins Mining Inc.

TSX: WTM
Jan 13, 2009 08:00 ET

West Timmins Mining Announces $2 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 13, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION THROUGH U.S. NEWSWIRE SERVICES

West Timmins Mining Inc. (TSX:WTM) (the "Company") announced today that it has negotiated a private placement with Canaccord Capital Corporation (the "Agent") of up to 4,000,000 units (the "Units") at a price of $0.50 per Unit for gross proceeds of up to CDN$2,000,000 (the "Offering").

Each Unit will consist of one common share and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to subscribe for one additional common share at a price of $0.65 for a period of 18 months from the date of closing.

The Company has also granted the Agent an overallotment option to solicit an additional 2,000,000 Units to raise additional gross proceeds of up to $1,000,000, exercisable 48 hours prior to closing. The net proceeds raised from the Offering will be used for exploration of its mineral properties and for general working capital purposes.

Closing of the offering is anticipated to occur on or before January 30, 2009 and is subject to the receipt of applicable regulatory approvals including approval of the TSX. The securities issued will be subject to a standard four month hold period.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. person absent an exemption from the registration requirements of such Act.

About West Timmins Mining Inc. (www.westtimminsmining.com):

WTM is focussed on the exploration and development of district-scale gold and related base metal projects in the major gold camps of North America. The Company is advancing the high-grade Rusk Gold discovery on its Thunder Creek joint venture in Timmins, Ontario where it is currently in the midst of a 22,000 metre diamond drill program. WTM also has active gold exploration projects in Mexico, highlighted by the Montana de Oro Project in Sonora, Mexico and the high-grade Lluvia de Oro gold-silver Project in Chihuahua, Mexico. West Timmins Mining is based in Vancouver, British Columbia, Canada and trades on the Toronto Stock Exchange under the symbol WTM.

On behalf of the Board of West Timmins Mining Inc.

Darin W. Wagner, President and Chief Executive Officer

For further details on West Timmins Mining Inc. please refer to prior disclosure at www.sedar.com. The securities described in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, or under any U.S. state securities laws, and such securities may not be offered or sold in the United States absent an exemption from such registration requirements.

This press release contains forward looking statements within the meaning of applicable Canadian and U.S. securities regulation, including statements regarding the future activities of the Company. Forward looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward looking statements is subject to a number of risks, including those described in the Company's annual information form as filed with the Canadian securities regulators which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward looking statements.

The TSX has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

For more information, please contact

West Timmins Mining Inc.
John Toporowski
Manager, Investor Relations
(604) 685-8311 or Toll Free: 1-866-685-8311
Email: jtoporowski@westtimminsmining.com
Website: www.westtimminsmining.com
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